Armistice Capital LLC Invests $3.04 Million in iPower Inc. (NYSE:IPW)

Armistice Capital LLC acquired a new stake in shares of iPower Inc. (NYSE:IPW) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,463,000 shares of the company’s stock, valued at approximately $3,043,000.

Separately, Renaissance Technologies LLC grew its position in iPower by 197.8% during the second quarter. Renaissance Technologies LLC now owns 41,100 shares of the company’s stock valued at $85,000 after acquiring an additional 27,300 shares during the last quarter. 2.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Roth Mkm upped their price objective on shares of iPower from $1.25 to $2.75 and gave the company a “buy” rating in a research note on Tuesday, June 25th. StockNews.com downgraded shares of iPower from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st.

iPower Price Performance

Shares of IPW stock opened at $1.64 on Friday. The business has a 50-day moving average of $1.45 and a 200 day moving average of $1.34. iPower Inc. has a 1-year low of $0.40 and a 1-year high of $3.65. The stock has a market capitalization of $51.50 million, a PE ratio of -9.65 and a beta of 3.99.

iPower Company Profile

iPower Inc operates as an online retailer and supplier of consumer home, garden, and pet products for commercial businesses and individuals in the United States. The company offers grow light systems; advanced heating, ventilation, and air conditioning systems; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media products.